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Harley-Davidson Stock Surges on Financing Arm Stake Sale
Harley-Davidson Stock Surges on Financing Arm Stake Sale
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BTCCSquare news:
Harley-Davidson shares rallied 12% after announcing the sale of nearly 10% stakes in its financing division, HDFS, to private equity firms KKR and PIMCO. The deal is expected to generate $1.25 billion in discretionary cash, earmarked for debt reduction, shareholder returns, and corporate reinvestment.
Despite the financial maneuvering, the company reported a stark 19% year-over-year revenue decline to $1.31 billion for Q2, with motorcycle shipments plummeting 28%. CEO Jochen Zeitz cited a "challenging commercial environment" as the culprit.
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